Tue, Dec 02, 2014 - Page 14 News List

Property developers hopeful of buyers returning after polls

Staff writer, with CNA

Resident and commercial property transactions are expected to pick up following the conclusion of the nine-in-one elections, online property sales agency HouseFun (好房) said yesterday.

HouseFun head Ni Tzu-jen (倪子仁) said that property developers are scheduled to launch more than 40 projects with a total value of about NT$230 billion (US$7.41 billion) on expectations that buyers would return to the market.

Despite the Chinese Nationalist Party’s (KMT) crushing defeat, market analysts are hopeful that the end of the elections could prompt investors to buy, which would help the property market climb out of the doldrums.

According to Sinyi Realty Inc (信義房屋), the elections prevented many buyers from taking the plunge, so transactions of homes, shops and offices last month fell about 10 percent from October.

Data released by H&B Realty (住商不動產) also showed that residential and commercial property transactions dropped more than 6 percent sequentially last month.

A survey by Sinyi Realty showed that almost 50 percent of buyers planned to enter the market after the elections.

Ni agreed, saying that property developers are gearing up to attract as many home buyers as possible to push up transactions.

Strong buying interest is expected to be felt by the end of the year, a peak season for the property market, and could continue into the Lunar New Year holiday in mid-February.

However, Ni said that home buyers should be alert to potential changes in government policies, such as tightening measures to rein in soaring home prices or the ending of the US Federal Reserve’s quantitative easing.

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